Lifestyle Design for Traders Tim Ferriss 4 Hour Workweek | MartinKronicle - Michael Martin
Search

Lifestyle Design for Traders Tim Ferriss 4 Hour Workweek

I am a natural at lifestyle design. I’ve always made sure that I have a high quality of life in everything I do. Yet, I don’t have a monopoly on ideas and I found Tim’s book entertaining and informative and very inventive.

I just reread the The 4-Hour Workweek by Timothy Ferriss and I was thinking on how you, as a trader, can manage your business, manage risk, and have a high quality of life per the techniques and advice that Tim delineates in his book.

Say you decided to create a trading model that traded only the Open and the Close. You could oversee your system for 15 or 30 minutes at the Open and Close and have it down to 2.5 to 5 hours and you’d still be trading during the most liquid times during the day. Or, you could just enter your orders at the Open and put in your protective stops and “set it and forget it” for 10 minutes each morning. That would equate to less than 1 hour and you’d still have a killer risk management system.

I think the ideas Tim teaches work better for a system trader than for someone who looks for discretionary trades, because the latter has to be at his screen for an indeterminate amount of time during the day.

Has anyone taken anything from The 4-Hour Workweek and used it successfully to better ascertain a higher quality of life with their trading? Let’s share notes.

Related Topics

  • Pingback: Tweets that mention Lifestyle Design for Traders Tim Ferriss 4 Hour Workweek | MartinKronicle -- Topsy.com()

  • Manuelbravochico

    I used to getaway trading like that in the 90’s and first half of 00’s. I still remember trading SP’s for 1 hour/week and pulling out chunky PnL’s. I’m not stating it still can’t be done, rather that markets have gotten more competitive and being able to do a 4 hour trade week has gotten tougher to pull off. Systems life cycles have compressed alot. But that’s a whole other topic in itself.

    ps. I did read the book.

  • ngranja

    I tried the once a day email thing (although I think Tim does something like once a week). It worked really well for a week but I must admit I later forgot about it, since I don’t receive that many emails anyway it is not a huge thing but I know some people in my office that would benefit from it. I am attracted to systematic/automated trading precisely because of better quality of life. I just read the Economist once a week and skim read a couple of on line newspapers (like 3 minutes), I took that advice from him. I have realized that when you do this all the daily financial news about the stock market and what the Fed does just become absurd and funny (and crucially not relevant to my trading or my life). I am consedering his advice about studying something for super efficiency (the way he wins the Chinese Kung Fu tournament is nothing short of amazing). However, I think his best contribution is a whole new thinking about life that everybody should notice.